Daily Update On Current Affairs – August 02, 2017

The Lok Sabha has approved the Supplementary Demands for Grants of about Rs 11160 cr for 2017-18. Out of total expenditure, as much as Rs 7000 cr will go to the Ministry of Petroleum and Natural Gas towards additional grants-in-aid for payment of differential royalty to State governments. Besides, the Centre also proposes to spend Rs 1,800 cr towards budgetary support to the units in the States of Jammu and Kashmir, Uttarakhand, Himachal Pradesh and North-Eastern States including Sikkim under Goods and Services Tax (GST) regime.

Parliament passes Right of Children to Free and Compulsory Education (Amendment) Bill, 2017

Parliament has passed the Right of Children to Free and Compulsory Education (Amendment) Bill, 2017 with Rajya Sabha approving it today. Lok Sabha had passed it earlier. Replying to the debate on the bill, HRD Minister Prakash Javadekar said education is national agenda and all political parties should work together to accomplish it. He said deteriorating standard of education in government schools is a matter of concern and the government has taken several initiatives to improve the quality of education. Mr. Javadekar said, learning outcomes have been codified and handbooks have been provided to schools. He said parents will also be given a copy of the outcomes so that they may know what their wards are expected to know in a particular class.

Shahid Khan Abbasi was sworn in as Prime Minister of Pakistan

Shahid Khaqan Abbasi was sworn in as Prime Minister of Pakistan in an oath-taking ceremony held at President House on the 1st Aug. Abbasi was sworn in by President Mamnoon Hussain. Earlier in the day, he was elected Prime Minister by Pakistan’s National Assembly, becoming the interim leader of the country after Nawaz Sharif was disqualified by the Supreme Court over the Panama Papers scandal. Abbasi got elected after getting 221 votes in the House of 342. Naveed Qamar of Pakistan Peoples Party got 47 votes, Sheikh Rashid Ahmed of Pakistan Tehreek-e-Insaf got 33 while Jamaat-e-Islami’s Sahibzada Tariqullah managed just four votes.

23 cities bid for London-based EU agencies after Brexit

Twenty-three European cities have offered themselves as candidates to host two London-based EU agencies after they were forced to leave the British capital because of Brexit. The European Council said in a statement that nineteen cities have bid to host the European Medicines Agency while eight have been thrown their hats into the ring for the European Banking Authority.

India and China are home to 39% of young Internet Users

As per a UN Report “ICT facts and figures 2017”, of the 830 million young Internet users in the world, 39% of them come from India and China. Youth between 15 and 24 years of age are in the forefront of the internet usage in the world.

After introduction of GST, all India weighted average MRP of Urea has decreased by 71 paise per bag: Govt

Minister of State for Chemicals and Fertilizers, Mansukh Mandaviya today informed the Lok Sabha that all India weighted average MRP of urea has decreased by 71 paise per bag after the introduction of GST. In a written reply to a question, the Minister said, in this way, the farmers have directly benefitted from GST. He also said, there is an adequate availability of all subsidized chemical fertilizers across the country and there is no report of any shortage.

Indian Bank revises its interest rates on FCNR Deposits

Indian Bank has revised its interest rates on foreign currency non-resident term deposits which are effective from August 1 for FCNR deposits in US dollar terms. The revised interest rate has been fixed at 2.45 percent for deposits of one year and above but less than two years, from the existing 2.43 percent. According to a statement for deposits of two years and above but less than three years, the rate has been revised to 2.60 percent (2.59 percent). For deposits of three years and above but less than four years, the revised rate is 2.75 percent (2.76 per cent). For deposits of four years and above but less than five years, the rate remains unchanged at 2.86 percent. The interest rate for deposits up to five years stays at the same level of 2.96 percent.

Airtel Payments Bank ties up with HPCL

Airtel Payments Bank, on 1st August, said it has a partnership with the Hindustan Petroleum Corporation Limited (HPCL), to give them a further boost to digital payments in the country and to add to the customer convenience. All 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank, the company said. All Airtel Payments Bank customers will be able to access a range of convenient banking services at these 14,000 fuel stations like opening new accounts, making cash deposits and withdrawals facility, and transfer money.

Arvind Panagariya resigns as Vice-Chairman of NITI Aayog

Arvind Panagariya (64) has resigned as Vice Chairman of NITI (National Institution for Transforming India) Aayog and announced to return to academics in the US. He resigned after his public service leave for two years from the Columbia University, where he is a professor of Indian Political Economy did not receive an extension. He was appointed as the as Vice Chairman of NITI Aayog in January 2015 and held cabinet minister rank.

Mukesh Ambani becomes the second richest Asian

With a net worth of $ 35.2 billion, the Chairman of Reliance Industries, Mukesh Ambani, has become the second richest Asian, over taking Hong Kong businessman Li Ka-Shing.

August 1- Non-Cooperation Day by Mahatma Gandhi

The 1st of August holds a significant place in the Indian history, as it was on 1st Aug 1927 that Mahatma Gandhi launched the Non-Cooperation Movement against the British Raj. The non-cooperation movement was a decisive step in the freedom movement because, for the first time, the Indian National Congress was ready to forego the constitutional means to achieve freedom from the British. The movement was essentially a peaceful and a nonviolent move against the British Govt in India.

Los Angeles formally announced its bid for the 2028 Summer Olympics today after agreeing to a deal that paves the way for Paris to host in 2024. The Los Angeles Olympic and Para Olympic bid committee in cooperation with the International Olympic Committee (IOC), announced it on the 31st July. The LA bid committee said in a statement that Los Angeles will host the Olympic Games and Para Olympic Games 2028. Los Angeles had been in a race with Paris to host the 2024 Games, with the winner to be named by the IOC on September 13 in Lima.